Trump outlined fresh tariffs on $50 billion of Chinese imports at a 25% duty tax rate. China announced tariffs on $3 billion of imports from the U.S., including products from steel to pork, after Trump’s move to order levies on a range of Chinese goods. Meanwhile, business groups representing companies like Walmart Inc. to Amazon.com Inc. are warning U.S. tariffs could raise prices for consumers and sideswipe stock prices.